Short Interest in The Kraft Heinz Company (NASDAQ:KHC) Declines By 7.2%

The Kraft Heinz Company (NASDAQ:KHC) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 20,490,000 shares, a decline of 7.2% from the October 15th total of 22,090,000 shares. Currently, 1.9% of the company’s stock are short sold. Based on an average daily volume of 7,740,000 shares, the days-to-cover ratio is currently 2.6 days.

Institutional Trading of Kraft Heinz

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KHC. WealthPLAN Partners LLC bought a new position in shares of Kraft Heinz in the first quarter worth about $25,000. Ancora Advisors LLC increased its holdings in Kraft Heinz by 69.9% during the 1st quarter. Ancora Advisors LLC now owns 661 shares of the company’s stock worth $26,000 after purchasing an additional 272 shares during the period. Sound Income Strategies LLC raised its position in Kraft Heinz by 436.2% during the 2nd quarter. Sound Income Strategies LLC now owns 740 shares of the company’s stock valued at $26,000 after purchasing an additional 602 shares in the last quarter. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Kraft Heinz in the 2nd quarter worth $27,000. Finally, Riverview Trust Co bought a new position in shares of Kraft Heinz during the 3rd quarter worth $27,000. 75.39% of the stock is owned by hedge funds and other institutional investors.

Kraft Heinz Price Performance

Shares of Kraft Heinz stock traded down $0.19 during trading on Friday, reaching $33.62. 4,204,194 shares of the stock traded hands, compared to its average volume of 7,285,525. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.00 and a quick ratio of 0.52. The company has a market capitalization of $41.24 billion, a price-to-earnings ratio of 13.97, a P/E/G ratio of 2.44 and a beta of 0.69. Kraft Heinz has a 52-week low of $30.68 and a 52-week high of $42.80. The business has a fifty day simple moving average of $32.83 and a two-hundred day simple moving average of $35.14.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, November 1st. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.06. Kraft Heinz had a net margin of 11.00% and a return on equity of 7.63%. The company had revenue of $6.57 billion for the quarter, compared to the consensus estimate of $6.70 billion. During the same quarter in the prior year, the firm earned $0.63 earnings per share. Kraft Heinz’s revenue was up 1.0% on a year-over-year basis. Sell-side analysts expect that Kraft Heinz will post 2.96 EPS for the current year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date is Thursday, November 30th. Kraft Heinz’s dividend payout ratio (DPR) is 66.12%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on KHC shares. Mizuho dropped their target price on shares of Kraft Heinz from $50.00 to $47.00 in a report on Monday, July 31st. TD Cowen started coverage on Kraft Heinz in a report on Wednesday, September 13th. They issued a “market perform” rating and a $35.00 price objective for the company. HSBC began coverage on Kraft Heinz in a report on Friday, September 22nd. They issued a “hold” rating and a $38.00 target price on the stock. Piper Sandler boosted their price target on Kraft Heinz from $34.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday, November 2nd. Finally, Bank of America lowered their price objective on shares of Kraft Heinz from $48.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, October 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $40.50.

Kraft Heinz Company Profile

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.